Bowman Consulting Group Ltd. Stock Price, News & Analysis

Bowman Consulting Group Ltd. (NASDAQ: BWMN) has acquired the assets of BTM Engineering, Inc., a professional services firm based in Louisville, Kentucky. Founded in 1980, BTM delivers various engineering services. The acquisition is expected to contribute approximately $3 million in annual net service billing, enhancing Bowman's growth strategy and offering immediate cross-selling opportunities. The deal will be financed through cash, seller financing, and stock, marking Bowman's third acquisition in a series ahead of its upcoming earnings call in November.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) will announce its Q3 2021 financial results on November 10, 2021, after market close. A webcast detailing the results will take place at 9:00 a.m. ET on November 11, 2021, hosted by Chairman and CEO Gary Bowman and CFO Bruce Labovitz. The company, headquartered in Reston, Virginia, offers engineering solutions across various regulated markets and employs over 800 people. Bowman completed an initial public offering raising $51.7 million on May 11, 2021.

Bowman Consulting Group Ltd. (BWMN) announced the acquisition of PCD Engineering, Inc., a Denver-based building services firm, which is expected to contribute approximately $2.5 million in annual net service billing. This acquisition aligns with Bowman's strategy for growth in the building services sector, focusing on sustainability and energy efficiency. CEO Gary Bowman highlighted PCD's innovative capabilities and synergy with Bowman's existing operations. The deal was financed through cash, seller financing, and stock, marking Bowman's fourth acquisition in 2021.

Bowman Consulting Group Ltd. (BWMN) has acquired the assets of Triangle Site Design, a civil engineering firm based in Raleigh, NC. Founded in 2008, Triangle is known for its land planning services. This acquisition is expected to contribute approximately $2 million in annual net service billing and is immediately accretive. The deal was financed via cash, seller financing, and stock. Bowman's CEO, Gary Bowman, stated that this acquisition aligns with their strategic growth plans and establishes a foothold in the Carolinas, while Triangle's founder, Matt Lowder, expressed excitement about the synergies with Bowman.

Bowman Consulting Group Ltd (BWMN) has appointed Jim Brezack as the new Water Resources Director, enhancing its national water resources practice. Brezack brings 30 years of industry experience, focusing on water conservation and supply challenges, and will help expand Bowman's presence in the California market. His previous firm, Brezack & Associates, has joined Bowman, indicating a strategic move to strengthen their capabilities in addressing rising U.S. water and environmental challenges.

Bowman Consulting Group Ltd. (Nasdaq: BWMN) reported record financial results for Q2 2021, achieving gross revenue of $36.5 million, a 15% year-over-year increase, and net service billing of $32.5 million, up 20%. Net income adjusted for IPO expenses reached $1.0 million. The backlog increased to $124 million, reflecting strong new contracts. Additionally, the company expects net service billing for FY 2021 to be between $125 million and $130 million. Recent acquisition and improved margins further support growth prospects.

Bowman Consulting Group Ltd has appointed Solomon Lee “Solly” Van Meter as a Sr. Project Manager in Energy and Land Services. His role focuses on managing land acquisition and real estate issues related to renewable energy projects. Van Meter, a former consultant for Carolina Solar Energy and BP Wind Energy North America, brings significant expertise in community relations and project approvals. This addition aligns with Bowman’s strategy to enhance its renewable energy capabilities, especially in Kentucky, as the state shifts towards solar energy.

Bowman Consulting Group (NASDAQ: BWMN) has acquired the assets of McFarland-Dyer & Associates, enhancing its service offerings in civil engineering, land planning, surveying, and landscape architecture. This strategic move aims to expand Bowman's footprint in the Atlanta market and is projected to add approximately $4 million in annualized net service billing. The acquisition was financed through cash, seller financing, and stock, affirming Bowman's commitment to delivering growth and shareholder value following its recent $52 million IPO.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) will release its financial results for Q2 2021 after the market closes on August 11, 2021. A webcast to discuss these results will be held on August 12, 2021, at 9:00 a.m. ET, hosted by CEO Gary Bowman and CFO Bruce Labovitz. The Company, headquartered in Virginia, provides engineering solutions and completed its IPO in May 2021, raising $51.7 million. With over 800 employees across more than 30 U.S. offices, Bowman serves diverse sectors requiring regulated services.